Since Wednesday was PI day (3.14), I thought I might update my PI trade article, says Dave Landry, f...
Take a Ride on the Elevator for Quick Profits! (Part 2)
09/16/2008 12:00 am EST
Once again, price shows us where it is going. There’s never a need to guess and risk your capital once you begin to trust in the signs price is clearly showing you!
In this example, there were two well-tested median line sets and their parallel lines. There was no need to choose between the two—let price show you which median line set is going to “play the tune!”
There were also two energy points, stacked nearly horizontally, about to come into play. Let price show you which energy point was important and going to show you the trend and then risk your capital.
You can see that price not only used both median line sets, it also used both energy points, even though they were stacked nearly on top of each other and separated by nearly 25 S&P points! Price tested the first energy point, allowed you a low risk entry, and then “rode the elevator” caused by the attractor nature of energy points right to the second energy point, giving you a quick 25-point vertical profitable ride!
Price does not know or care about economic releases, nor does it care about unexpected news releases. The upcoming movements are there for you to read and trade if you master your tools, use quality money management, and then follow the path laid out by price. Don’t trade in front of price—instead let price show you where it’s going and then find a high probability entry set up you recognize with quality stop-loss orders and jump on for the ride. Take a ride with price, even if it’s an elevator ride!
I wish you all good trading.
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